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What is the average 5/1 ARM interest rate?

For today, Sunday, August 11, 2024, the national average 5/1 ARM interest rate is 6.14%, down compared to last week’s of 6.38%. The national average 5/1 ARM refinance interest rate is 6.06%, down compared to last week’s of 6.24%. Lenders nationwide provide weekday mortgage rates to our comprehensive national survey.

What is the average 5/1 arm refinance interest rate?

The national average 5/1 ARM refinance interest rate is 6.06%, down compared to last week’s of 6.24%. Lenders nationwide provide weekday mortgage rates to our comprehensive national survey. Here you can see the latest marketplace average rates for a wide variety of purchase loans.

What is a 5/1 arm & 7/6 arm?

For example, a 5/1 ARM means that the rate will stay the same for the first five years and then adjust every year after that. A 7/6 ARM rate stays the same for the first seven years then adjusts every six months. Interest-only.

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